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There are many different ways to generate residual income over a wide array of businesses. It might be recurring income by the very same customers or the earnings of a product to new customers. It could require no personal involvement in any respect, like an e-book offered on a website, or it can require some personal interaction, like the insurance agent calling the customer to remind them about their renewal.

Note that this is different from recurring income which may still need your involvement to earn the income. For instance, a mentor or consultant on a monthly retainer, or a secretary who delivers lunch every Monday to the local school board has recurring income, but it comes in recurring work which limits on your earning capacity based on your own personal production ability. .

This frees the work of different people to make income for you. Some examples of leveraged income include:

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An e-book author selling her e-book through affiliates who promote the product.A network marketer who builds a downline and receives commissions on the sales made by people in his downline.A general contractor who makes a profit margin on the work done by subcontractors.Franchising your business model to other entrepreneurs (the ultimate leveraged income). .

Again, there are many different models in many different businesses. The key is that you are making money off of other people's labor, rather than mainly your own. Note that leveraged income may or may not be residual income. When you combine them, that's even better.

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This type of income requires your direct participation, but you can earn more money by having more people involved. This generally involves a one-time event, for example:

Although these need your immediate participation, your earning potential is much greater than if someone was paying you an immediate hourly fee. Fill in a room with 1,000 people paying $50 each and you can pay for your facility cost, promotional price, and staffing fees and still have a nice chunk of change left over. .

From the wise notions like an online course to the dress-me-in-the-white-jacket ideas like writing posts for adsense, Ive thought about straight from the source nearly every passive income flow there is.

During this period the one thing I wanted more than anything else, was a large fat epic list of all of the potential passive income streams there were.

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Unfortunately no one has even till this day made an entire list. So I spent the past week getting wealthy on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the world wide interwebs!

PS if you want to cut to the chase you can get access to 3 of my favorite passive income thoughts here or you can check out 30 of my favorite real-life passive income businesses here.

Ie first you need to haul ass and do something crazy, eg write a quality 20,000 word ebook (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone each morning available after sale after sale is madeon an ongoing basis and without any additional work.

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Because you can observe passive income streams simply come out of resources, and resources are either bought with money (eg rental property) or even in the event of most of the ideas below, purchased through perspiration (eg ebook)!

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The much loved version for bloggers and content creators everywhere and to get a good reasonits pretty simple to compose a 60-80 page ebook, not hard to sell say $500 value a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the pie after paying affiliates.  Hells yeah!  Continue reading .

Who doesnt enjoy some down and dirty affiliate commissions!  Particularly in the event that you understand it can be even easier to earn money in this way than with an ebook.  In the end, you merely need to concentrate on pumping some content to your own site and getting the traffic in, often via Google or social media.  Unsurprisingly, most people can enjoy their first affiliate sale within 30 days of starting a site.  Continue reading >.

If you told me several years back that this would end up being my #1 source of passive income, I'd have slapped you silly and called up the men in white coats to come take you away!  And because back then selling products online was insanely complex and time consuming.  Pretty much as non-passive as a business receives. .

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